Apple’s iPhone 5 may buoy weak U.S. economy this fall

“If the U.S. economy looks a little merrier this December, its Santa Claus will be the iPhone 5,” Tim Mullaney and Jefferson Graham report for USA Today.

“U.S. sales of Apple’s latest must-have gadget could pump more than $3 billion into the economy by year’s end, say some economists and technology analysts,” Mullaney and Graham report. “All told, the iPhone 5 could add a quarter-percentage point to the U.S. economy’s growth in the next three months, says Mark Zandi, chief economist at Moody’s Analytics.”

Mullaney and Graham report, “Even with the iPhone’s contribution, the U.S. economy is only expected to grow at a weak annual rate of 2% to 2.5% in the October-December period, Zandi says. JPMorgan Chase estimates a 2% growth rate. But it should counter the negative effects of this summer’s drought on consumer spending growth.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Jamie H.” for the heads up.]

7 Comments

    1. i sold my first iphone 3g for a good price to a work colleague and he is very happy with it, he jail broken it and can play youtube /flash videos. with the sales proceed i got the iphone 4s and its the best phone i ever had

  1. It seems odd how a company that is not meeting Wall Street expectations is supposed to buoy the economy. Some factions on Wall Street continually point to Apple as some economic lynchpin while other factions place their faith on companies like Google and Amazon to carry the economy. How can the lynchpin company’s share price be falling if it’s being valued to carry the economy? That makes no sense at all. I have no doubt Apple will sell a lot of products by year’s end, but if the share price stays flat, then something isn’t balancing out.

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